[Updated at 1:45 p.m. ET] Atlanta will be losing a National Hockey League team for the second time, and Winnipeg, Manitoba, will be gaining one for the second time.

The new owner of the franchise, True North Sports and Entertainment, announced Tuesday that it has acquired the team from its current owners, Atlanta Spirit.

"I am excited beyond words" to make this announcement, True North CEO Mark Chipman said Tuesday.

The transaction is subject to the approval of the NHL Board of Governors later this month.

The Thrashers will be the second NHL franchise Atlanta has lost to Canada. The Flames moved to Calgary, Alberta, in 1980. Winnipeg lost its previous NHL team, the Jets, to Phoenix in 1996. The team was renamed the Coyotes in Phoenix.

NHL Commissioner Gary Bettman's words that hockey was stronger than ever in Canada sparked loud applause in Winnipeg. And then he said the words many residents of the city have been waiting to hear from the NHL:

"It's nice to be back in Winnipeg after all these years."

That sentiment was echoed by Manitoba Premier Greg Selinger.

"NHL - welcome home," he said. "It's great to have you back here where you belong. We've missed you, and we're going to make it work forever."

Bettman also had some words for Thrashers fans. He said the NHL doesn't like to move franchises unless it has to. And just like when the Jets were forced to leave Winnipeg in 1996, sometimes, "we simply don't have a choice."

"To fans in Atlanta, we are not happy about leaving Atlanta," he said. "Please be assured it was not about whether Winnipeg is better than Atlanta."

The Thrashers sent out an e-mail to fans thanking them for their support.

"It's extremely disappointing to all of us that [the sale] became necessary after all other options were exhausted," the e-mail said. "We want to express my gratitude to you, the fans, for the years of dedication to the Atlanta Thrashers.

But in Canada, where hockey is king, fans couldn't be happier.

Many are hoping the move can mean a return chance at cheering for the Jets, with the trending topic #gojetsgo picking up steam with the announcement. However, there has been no indication yet what the team would be named.

Chipman, who was involved with the effort to save the Jets years ago, said there is no doubt the loss affected the psyche of the town. But he is excited to bring the NHL back to the people of Winnipeg

And video around Winnipeg showed massive groups gathering at The Forks and other major areas, cheering, wearing Jets jerseys and chanting "Welcome back, welcome back" and "Go Jets, go."

"It's a fantastic day for the city, and I'm hoping, you know, for decades on, everybody will get to experience the NHL and the economic impact and the wonderful pride that comes with being a city that has the best of the best," Winnipeg Mayor Sam Katz told the CBC.

Mikey....9 players out of the 26 man roster are from CANADA! It doesnt matter where in canada these boys are from. Whart matters is now they get to move to their home country and play for a city that loves hockey!

9 players on their team will probably be happy moving there since their from Canada.
As for the USA players (9 players also) that has to really suck.
The rest of the roster is from other countries so they may or may not care.

Bettman and the NHL are killing off hockey for the 2nd time in a Top 10 US market. STUPID. This was a failure of the ownership group Atlanta Spirit, not the fans. I'm not sure why the NHL went overboard to rescue hockey in Phoenix (Not a Top 10 TV market) but wouldn't do the same in Atlanta. This stinks of the same corruption we saw when the Sonics were stolen from Seattle and currently with FIFA. Bettman and the NHL should be ashamed. What a sad sad farce for the people of Atlanta that have now had 2 teams stolen from them due to poor ownership and corruption/lack of support from the NHL leaders. Gary Bettman and Sepp Blatter are of the same slimy ilk.

stolen from atlanta? please.... lack of fan support and ticket buyers are the reason atlanta is losing their team for the 2nd time. lets face it, 40,000 people showed up at portage and main to celebrate a "rumour" of a team returning to winnipeg. in atlanta, 200 people showed up to "save" their team...... i think that says it all!

Its stupid how they are allowed to do this kind of thing in NHL. Thrashers are a part of Atlanta's cultural heritage and they are moving it to Canada. Imagine if they moved Falcons or Braves – I am sure people would uprise.

About This Blog

This blog â€“ This Just In â€“ will no longer be updated. Looking for the freshest news from CNN? Go to our ever-popular CNN.com homepage on your desktop or your mobile device, and join the party at @cnnbrk, the world's most-followed account for news.